18th Dec 2009 07:00
Not for distribution to United States newswire services or for dissemination in the United States
FOR IMMEDIATE RELEASE 7.00am 18 December 2009
allied gold limited
("Allied", "Allied Gold" or "the Company")
Issue of Equity
Allied Gold Limited ("Allied Gold" or the "Company") (TSX:ALG; ASX:ALD; AIM:AGLD) is pleased to announce that it has issued and allotted 456,699,000 new Ordinary Shares (the "Shares") in connection with its previously announced offering at a price of C$0.335 per share (or, for settlement in the United Kingdom, 19.4p per share) whereby raising approximately £88 million or A$160 million (the "Offering").
The Shares will rank pari passu with all existing ordinary shares, and trading of the Shares on AIM is expected to commence on 18 December 2009. This brings the total shares in issue to 1,035,412,865 (the "Enlarged Share Capital") and total Options over Ordinary Shares to 83,624,427, representing approximately 8.07% of the issued share capital.
As part of the Offering M&G Investments Plc, a 16.22% shareholder in Allied Gold by virtue of their holding of 93,839,177 Ordinary Shares, have subscribed for an additional 107,400,000 new Ordinary Shares at 19.4p per share. This is a related party transaction under the AIM Rules and therefore the Directors, having consulted the Company's Nominated Adviser, Beaumont Cornish Limited, consider that the terms of the transaction are fair and reasonable insofar as the Company's Shareholders are concerned.
Following the completion of the offering M&G Investments Plc hold 201,239,177 Ordinary Shares representing 19.44% of Allied's Enlarged Share Capital.
In addition, as a result of the Offering, Baker Steel Capital Managers hold 110,872,187 Ordinary Shares representing 10.71% of Allied's Enlarged Share Capital, Capital Research Global Investors hold 74,040,274 Ordinary Shares representing 7.15% of Allied's Enlarged Share Capital, Fidelity (Institutional Group) hold 51,214,755 Ordinary Shares representing 4.95% of Allied's Enlarged Share Capital and JP Morgan Asset Management UK Ltd hold 34,265,465 Ordinary Shares representing 3.31% of Allied's Enlarged Share Capital .
For further information, contact:
Allied Gold Limited
Mark Caruso
Executive Chairman
T:+61 8 93533638
Frank Terranova
Chief Financial Officer
T: +61 7 3252 5911
M: +61 448 187 557
E: fterranova@alliedgold.com.au
Peter Torre
Company Secretary
T: +61 8 9287 4604
E: peter@torrecorporate.com.au
Beaumont Cornish Limited
Roland Cornish
Beaumont Cornish Limited
T: +44 (0) 20 7628 3396
Related Shares:
ALD.L